Nassau, Bahamas — Anyone knowing this blog they would know there’s a famous line that comes from here, “Bahamians are suckers for punishment!” and boy Clico in this case is a classic example of that.
Anyone can come to The Bahamas, whether its CLICO, Global Life, Trinity Insurance or Gulf Union Bank, tell Bahamians pay two dollars and you’ll get three and they fall for it.
Bahamas Press was the first to confirm that CLICO will collapse. We first made that announcement on December 16th, 2008. But no one listened. We repeated our findings days before the public announcement, and even then not a sole jumped on our warning.
The CLICO debacle began on January 30 when the Government of Trinidad and Tobago, through its Central Bank, was forced to bail out four of the subsidiaries of the CL Financial Group. On February 24, The Prime Minister, Hubert Ingraham, who is also the Minister of Finance, granted a winding up order over the operations of CLICO Bahamas.
We exposed the masterminds behind the THIEF OF CLICO’s MONEY. We showed you Lawrence Duprey, Chairman of CL Financial (SEEN HERE). We exposed Ian Garcia (seen below), Chief Marketing Officer at Clico now back in Trinidad.
Garcia was one of the former operators at Clico Bahamas. He is one of those faces at Clico (Bahamas) who ordered the packing up of thousands of CLICO’s CLIENT files to be shipped out of the Nassau office in 2007. Bahamas Press can confirm that the entire filing room was cleaned out. Then Garcia left The Bahamas.
Knowing all this, BP said people who are holding annuities and investments in that company could kiss their money goodbye, but again not a sole listened? Prime Minister Ingraham came out of the woods whistling, after his ministry and the former Christie administration, saw the money walk out the country. Ingraham had the WUTLESS MEDIA say buyers are lined up to buy CLICO, YEAH RIGHT!
Ingraham saw nothing happening from the buyers and so he claimed they needed $30 million of public money to support a new buyer. But still today Zhivargo Laing said there is no interest in the market for CLICO. And despite all this, Ingraham is still telling the people who lost every dime in in the company, “Continue to pay your premiums.”
People came to this country, set up a Ponzi Scheme, took all the Bahamian people money, $74 million worth, and left the country. Mama is still crying and looking at her policy-book in tears. All we can do now is end this article and say what we said at the beginning, “Bahamians are suckers for punishment!”
Keep listening to Ingraham and continue to pay your premiums. Soon, someone will get what we said from early this year, CLICO IS A DONE DEAL AND ALL THE MONEY GONE!